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Recent Questions & Answers

1.6M limit on SMSF

Paul Rickard

We have a Freehold Commercial property in our SMSF, and it provides $60k of Tax free Income PA. The property is worth 1-1.3 M. We also hold further cash and some shares in the SMSF, which is in pension phase.

If we only have a single Corporate trustee, does this mean that we are exceeding the new proposed 1.6M limit, per person, and will have to reduce our holdings?


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Super changes

Paul Rickard

Why has Switzer remained silent on the changes to super announced in the budget yesterday?

I’m looking for information on these changes and how it will affect the decision for the people doing transition to retirement pension. What is meant by stopping lump sum payments in TTR pensions? Also how will the super funds be broken up for those who have greater than $1,6m? Can the assets be switched between funds?


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Term deposit rates for super accounts

Paul Rickard

When you are providing the latest and best Term Deposit rates, please note that the figures you give do not relate to money invested in a Super Fund Account. All deposits rates for Super funds are considerably less than deposits made in an individual names.

I have spent a large amount of time chasing this, with the major banks and the answer is always the same… Super funds are considered to be companies, and thus the rates offered will be less. With the recent cut to 1.75% in interest rates, you will be lucky to get 2.25 % on your money…. not good.


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